Despite the break-up of the OPEC+ production cut agreement, “the doors aren’t closed” to future cooperation between Russia and OPEC, Russia’s Energy Minister Alexander Novak told local news channel Rossiya 24 on Tuesday. “The fact that the agreement was not extended beyond April 1 doesn’t mean that we cannot cooperate with OPEC and non-OPEC producers in the future. We signed a charter last year and we will continue cooperation as part of it,” Novak told the news channel. ”We have various instruments, including production cuts and production increases, should they be necessary,” Novak said, adding that new agreements could be reached. Novak’s comments came a few days after Russia called it quits with the current production deal as OPEC and its leader Saudi Arabia insisted on a massive additional 1.5 million bpd production reduction until the end of 2020 in response to the depressed oil demand amid the coronavirus […]